Loan Types

There are a number of life situations that might require you to apply for a loan. Whether your car’s broken down, you’ve just lost your job, or you’re dealing with another type of urgent expense, you may need extra cash to cover the cost.
Cigno Loans offers a range of short-term loan types to help people access funds quickly. Explore the different types of loans offered by Cigno Loans to see what your options are.

Payday Loans

Payday loans can help you make ends meet until your next paycheck. This type of loan is sent to your bank account incredibly quickly, helping you cover important expenses. It’s a suitable option when you need a small amount of money fast.

Bad-Credit Loans

It can be hard to get a conventional loan when you have bad credit. If repeated rejections from financial institutions have got you feeling down, consider a bad credit loan instead. Cigno Loans believes in second chances, which is why we consider every application regardless of your credit history.

Weekend Loans

Always find that your money doesn’t last until the weekend, but the expenses keep coming? A weekend loan can help you cover your expenses over this time period.

Emergency Loans

Emergencies can strike at any time, potentially leaving you in a financial pinch. If you need help with urgent repairs, medical costs or any other emergency, emergency loans offer a quick fix.

Centrelink Loans

If you’ve had a hard time getting a loan because you’re on Centrelink, Centrelink loans are designed especially for people receiving government benefits. These loans can be used to cover anything from day-to-day expenses to full-blown emergencies.

Unemployment Loans

Being unemployed is when your finances tend to be the tightest. At the same time, it’s harder to get a conventional loan when you’re unemployed. An unemployment loan can help you overcome this hurdle.

Pensioner Loans

It can be challenging to make ends meet as a pensioner. A pensioner loan can help you cover unexpected medical bills or a significant purchase.

Low Income Loans

Low income earners are sometimes denied loans by financial institutions. A low income loan can help you cover anything from an unexpectedly high power bill to urgent car repairs.

Which loan is right for your needs?

It’s important to think about why you need a loan, and which one is right for you. You might struggle to choose between a low income, Centrelink or unemployment loan, for example. Or you might not know if your situation qualifies for an emergency loan, or just a regular payday loan. Short-term, fast, or for the weekend, there are many different types of loans to consider.
Taking out lots of small loans, for example, might be worse for you than just taking out one larger loan. On the flipside, taking out a large loan when you could’ve gotten away with a small loan may also be a bad idea.

We suggest sitting down and doing your own calculations. Whether that’s on an Excel spreadsheet or just a piece of paper, it’s a good idea to do a cost approximation and set a timeline. Don’t rush this step – it’s important to have a solid understanding of your financial requirements so you can apply for the right type of loan.

If you’d like a little extra help, speak to the Cigno Loans team for recommendations and suggestions.